The Property Podcast TPP601: Renters’ Rights news: Has property just changed forever?
10 snips
Sep 19, 2024 Exciting changes are sweeping through the UK property market with the new Renters' Rights bill. No-fault evictions are being addressed, along with rules against rent increases and bidding wars. A new landlord database is on the horizon, adding further transparency. How will these shifts affect both tenants and landlords? Join the discussion as the hosts delve into the implications of these updates and what they mean for the future of renting. Will this mark a turning point in property dynamics? Tune in to find out!
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Prepare for Longer Evictions
- Landlords should be prepared for longer eviction processes due to new legislation.
- Consider obtaining insurance to protect against rental arrears.
Rent Increase Restrictions
- Rent increases are limited to once per year under the new bill.
- Two months' notice is now required for rent increases.
Challenging Rent Increases
- Rent increases can be challenged by tenants at a tribunal if deemed above market value.
- This could delay increases, as they can't be backdated after tribunal decisions.
